Just starting out in your Forex trading journey? Then our beginner articles are just for you.
Do you already have a good understanding of the market? Check out our Advanced articles for more.
As Forex traders, we often learn different things from mentors, teachers, and “experts”. Even though knowledge is shared continuously, many indicators are hardly ever mentioned.
It is almost impossible to find in-depth information about these indicators and what works best with them.
In this article, we will take a look at the William Percentage Range indicator.
In trading, there are clues and nuggets that the great traders before us left behind. We can use this knowledge to summarize and dissect how the markets work.
Funny enough, some of these sayings and clues only make sense when they finally make sense!
When I started Forex trading, I genuinely thought I had to be trading for 24 hours, 5 days a week, and 240 days in a calendar year! Genuinely! I kid you not. I thought that was the only way you made money in the Forex Market.
Until I learned that it all depended on your strategy and the kind of lifestyle you sought to live.
HOW TO LOSE ALL OF YOUR MONEY TRADING FOREX! Traders with some experience may have heard of the term, but I guarantee you that a lot of traders don’t understand it.
That opening line may have scared you, but don’t worry, because the point of this is to learn how to reduce the risk of losing your capital.
Cut your losses short, let your winners run. You know the saying, but do you apply it in your trading? I can tell you now that most people do the exact opposite – They cut their winners short and hope losing trades will magically move in their favour.
Trading, and the Forex market especially, can be a very cutthroat industry. Everything is supposed to be summed up by your bottom-line. You either made your bed, or you wet the bed, but I need you to know there is a lot that goes on behind the bottom line.
Did you know that the average human being has 60,000 thoughts a day?
Within the trading industry, our thoughts can predominantly be negative ones that don’t serve us. The things that happen around us are a product of our thoughts.
So imagine having just a tenth of your thoughts about the Forex Markets, and now imagine those thoughts not being positive ones.
In the Forex market or when trading any market, there is a general feeling from traders (mostly new swing traders) that they have to be involved in every single opportunity and every trade that comes across their desk! In reality, you probably won’t catch every single move because life happens.
I think it’s about time we talk about something other than the struggle of learning how to trade right? Let’s talk about what to expect when you finally become profitable because that is the goal you are working towards.
If this week has taught me anything, it’s that you can never be too sure because you never know what’s coming or when it is coming. This past week we witnessed the US elections, and with that came volatility.
As traders, we love volatility. We love movement in a bearish or bullish direction.
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